Day’s end and RIMM’s end…

And there you have it, another day in the bag. Another critter cooked. Another hand dealt.

I trimmed some Marvell today as noted and trimmed some Sandisk calls yesterday as noted and other than that, it’s also been pretty darn profitable to just let things play out as I’ve been saying.

RIMM’s out and it’s ugly. Stock’s down 15% as I type. Glad I warned you guys to stay away!  Like I said the other day, avoiding losses and bad trades is just as important as making profits and good trades is over time.  Of course, all that said, I’m now pissed PISSED pissed at myself for not having actually shorted it before the call now that I’ve re-read my earlier analysis.  It was pretty damn accurate, actually.  Here’s Barron’s take on RIMM’s report, with all the details including the (as I’d predicted) horrid Playbook sales figures:

Research In Motion (RIMM) this afternoon reported fiscal Q2 revenue and earnings per share below expectations, but forecast the current quarter’s revenue above consensus, while EPS is expected to come in lighter than analysts expect.

Revenue for the three months ended in August fell 10% to $4.17 billion, yielding EPS of 80 cents.

That was at the low end of the company’s forecast of $4.2 billion to $4.8 billion and 75 cents to $1.05.

The Street was modeling $4.47 billion and 88 cents.

Shipments of 10.6 million BlackBerry units were below expectations of the 11 million to 12 million range, and below the company’s own forecast.

For Q3, the company sees $5.3 billion to $5.6 billion, ahead of the average $5.3 billion estimate. EPS, however, is seen in a range of $1.20 to $1.40 per share, below the consensus $1.36 per share.

The company said full-year EPS is now expected to be toward the low-end of the previously announced $5.25 to $6 per share.

RIM shares are down $3.32, or 11%, at $26.23 in late trading.

Shipments of the company’s PlayBook tablet computer in the quarter totaled 200,000 units, it said, below some estimates I’d seen of half a million or so units.  —

Cody back again. That’s it for today.  Thanks for reading and I’ll see ya’ manana.